Gold’s turn-of-the-month buy bias

From blog.hycmlab.com

The case for buying gold has been increasing over the last couple of weeks due to increased expectations that the Federal Reserve will need to stop hiking interest rates as US economic activity shows signs of slowing down. The main economic data point concerning markets was the weak US PMI prints last week, which resulted in a strong bid coming into bonds which helped lift gold. This week is a really important data week for the US. On Thursday, we have the Fed’s preferred measure of inflation, the PCE reading. Then on Friday, we have the all-important labour data. The Federal Reserve sees strong labour data as ... (full story)